China retaliates with 84% tariffs in latest trade war escalation
By Frank Prenesti
Date: Wednesday 09 Apr 2025
(Sharecast News) - China on Wednesday announced new tariffs of 84% on the US in the latest trade war tit-for-tat retaliation between the world's two biggest economy.
The Chinese ministry of finance said the tariffs on US goods would start from Thursday, up from the 34% previously announced.
US President Donald Trump raised import taxes on Chinese imports to 104% on the day that his policy of levies on all of America's trading partners took hold.
Meanwhile, the European Union hit back with its own retaliatory measures, after securing the necessary support to impose levies from April 15 in response to steel and aluminium tariffs ordered by Trump.
The European Commission's said: "The EU considers US tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy."
"The EU has stated its clear preference to find negotiated outcomes with the US, which would be balanced and mutually beneficial. These countermeasures can be suspended at any time, should the US agree to a fair and balanced negotiated outcome," it added.
Reporting by Frank Prenesti for Sharecast.com
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